S. 8400(Robach)/A. 11700(Benedetto)

Workers' Compensation Notice

Summary: The bill requires insurers and the State Insurance Fund to file notification
with the Workers' Compensation Board (the "Board"), within 30 days of issuance, of the reinstatement, amendment or endorsement, of any contract for workers' compensation or disability insurance. Specifics include:

Workers' Compensation Law § 54 is amended to add a new paragraph 5-a to require
all insurance carriers and the State Insurance Fund to file notification with the Board within
30 days when they issue, reinstate, amend or endorse any insurance contract for workers' compensation
coverage.

Workers' Compensation Law § 54 is amended to permit the Board to impose a penalty
of up to $500 against insurance carriers or the State Insurance Fund for each 10-day period they
fail to file notice, and against group self-insured trusts that fail to file notice.

A new paragraph
is added to Workers' Compensation Law § 54 (5) to provide that
in the event that a cancellation or termination notice is not filed with the Board within the
required time period, the Board shall impose a penalty in the amount of up to $500 for each 10-day
period the insurance carrier or the State Insurance Fund failed to file the notification.

A new
Workers' Compensation Law § 266 (6) is added to require all insurance carriers and the State
Insurance Fund to file notification with the Board within 30 days when they issue, reinstate,
amend or endorse any contract for disability insurance. The Board may impose a penalty of up
to $100 against insurance carriers and the State Insurance Fund for each 10-day period they fail
to file notice.

Effective Date: Ninety days after enactment.

Last Action: Approved and signed by the Governor on July 21, 2008 (Chapter 322 of
the Laws of 2008).